Cabot Corp. CEO Patrick M. Prevost Unloads 15,000 Shares (CBT)
Cabot Corp. (NYSE:CBT) CEO Patrick M. Prevost sold 15,000 shares of the company’s stock on the open market in a transaction dated Thursday, February 13th. The shares were sold at an average price of $50.16, for a total value of $752,400.00. Following the sale, the chief executive officer now directly owns 256,023 shares of the company’s stock, valued at approximately $12,842,114. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on CBT. Analysts at JPMorgan Chase & Co. upgraded shares of Cabot Corp. from a “neutral” rating to an “overweight” rating in a research note on Friday. They now have a $55.00 price target on the stock, up previously from $49.00. Separately, analysts at SunTrust upgraded shares of Cabot Corp. from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 4th. They now have a $54.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Northcoast Research raised their price target on shares of Cabot Corp. from $52.00 to $60.00 in a research note on Friday, January 24th. One research analyst has rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $53.13.
Cabot Corp. (NYSE:CBT) traded down 0.16% during mid-day trading on Friday, hitting $49.92. 59,635 shares of the company’s stock traded hands. Cabot Corp. has a 52-week low of $32.13 and a 52-week high of $52.43. The stock has a 50-day moving average of $49.8 and a 200-day moving average of $45.62. The company has a market cap of $3.214 billion and a P/E ratio of 15.31.
Cabot Corp. (NYSE:CBT) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.86 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.71 by $0.15. The company had revenue of $899.00 million for the quarter, compared to the consensus estimate of $854.67 million. During the same quarter last year, the company posted $0.66 earnings per share. Cabot Corp.’s revenue was up 9.6% compared to the same quarter last year. Analysts expect that Cabot Corp. will post $3.69 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 14th. Shareholders of record on Friday, February 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, February 26th.
Cabot Corporation (NYSE:CBT) is a global specialty chemicals and performance materials company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.